The Finance Ministry welcomed data showing Cyprus’ economy grew at 3.4% GDP in Q3 2019 for the fifth consecutive year saying it was proof of solid foundations. In a statement, the Ministry said estimates of Q3 growth rate at 3.4% “indicate the economy is continuing to largely grow at a satisfactory rate.” The last time
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Cypriot champions APOEL FC have sacked their German manager Thomas Doll, soon after losing to Nicosia rivals Olympiacos 2-0 away at the weekend and ahead of their Europa League tie against Sevilla FC. In a statement by the club on Monday, APOEL said it had ended its “cooperation with coach Thomas Doll by mutual consent”.
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Cyprus has sunk a ship off the coast of Larnaca to enhance its network of artificial reefs that will develop marine life, while boosting specialised tourism by placing the island on the international map of diving destinations. The 63m cargo vessel, Elpida (“Hope”), is the fifth and largest ship sunk off the coast of Cyprus,
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Israel is blocking the $9.3 bln commercial development of Cyprus’ Aphrodite gas field in a dispute with a neighbouring reservoir over distribution claims. Israel and Cyprus signed an agreement setting the border between their respective exclusive economic waters in 2010. The agreement, which was designed to arrange the development of gas reservoirs straddling the territory
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By Hussein Sayed, Chief Market Strategist at FXTM Traders and investors are bracing for a volatile week ahead as several events may determine the direction of markets for the foreseeable future. Will the Conservatives secure a majority in the UK election? Looking at where Sterling stands now, it seems evident that currency
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Cyprus Foreign Minister Nikos Christodoulides is in Brussels for the EU Foreign Affairs Council where Turkey’s actions in the East Med and controversial maritime deal with Libya will be discussed. On the sidelines of the FAC Christodoulides will meet with new EU High Representative Josep Borrell. The Foreign Affairs Council will start with a discussion
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By Antonis Loizou Acquisition of land/building plots as an investment, either for future capital appreciation/development was up until recent years more of a national sport. Due to the boom years up to 2008 for the real estate market when prices increased at a very fast rate and with positive sales prospects, investing in land made
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The Agriculture Ministry is preparing an ambitious scheme to increase the production of goats and sheep milk by genetically enhancing livestock to meet a spike in demand for Cyprus’ squeaky cheese. Demand for goats’ milk will radically increase when Cyprus’ traditional cheese is officially registered as a Protected Designation of Origin (PDO) foodstuff with the
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Underwhelmed reaction to the failure of dinner diplomacy in Berlin where the UN chief pushed the Cyprus can down the road only shows how far we have become entrenched in division. Whatever the politicians say or don’t say there is no clear pathway to peace or reunification for an island under Turkish occupation since 1974.
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Cyprus banks appear unable to give out loans despite improved macroeconomic indicators and low-interest rates on offer with bankers refuting claims they are purposely avoiding injecting money back into the economy. Arguing that they are doing their best to execute their role of fuelling the economy with new loans, bankers say there aren’t enough viable
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